Grand Valley State generates $849M for region, new study reveals

GRAND RAPIDS, MI - Grand Valley State University economic impact on the region has climbed to $849 million, according to the annual study from W.E. Upjohn Institute for Employment Research.

The Board of Trustees discussed Economic Impact Study Friday, April 27, during its board meeting at the L. William Seidman Center on the Pew Grand Rapids Campus.

The economic impact report covers Kent, Ottawa and Muskegon counties and used 2016-2017 data for the analysis. The estimated impact is up $33 million from last year's reported $816 million.

"This is a snapshot that highlights for people what it is worth to have public university campus part of your community,'' said Matt McLogan, vice president for university relations.

"The answer is $849 million of economic activity and producing nearly 12,000 jobs in the private sector that wouldn't be here if it wasn't for Grand Valley's presence. We both enhance and help stabilize the economy of West Michigan, which is in important for Michigan as a whole state. ''

Grand Valley employs 3,618 people. The total faculty and staff salary in the area is $262.4 million, according to the study. More than 25,000 students are spending money and paying taxes in the region and student expenditures total $202.8 million.

McLogan said Grand Valley creates talent, imports talent and keep it in the community. He said university alumni now number more than 117,000 with Saturday's graduation, and nearly half are living or working in West Michigan's tri-county area:

20,690 in business and public administration;

14,558 degrees and certifications in teaching and school administration;

Grand Valley is also continuing to expand its healthcare footprint. In June, construction will begin on a new $70 million health building at 333 Michigan St., next to Grand Valley's Cook-DeVos Center for Health Sciences on the Medical Mile.

The five-story, 160,000 square-foot-building is scheduled to be finished in May 2021.

Raleigh J. Finkelstein Hall, located at 500 Lafayette on the Pew Grand Rapids Campus, will open for classes May 7.

The $46.5 million, 84,000-square-foot health building includes classroom, laboratory and office space to support the College of Health Professions and Kirkhof College of Nursing.

"Grand Valley is the state's largest producer of Allied Health professionals, including occupational therapists, physical therapists, and physician assistants,'' said Logan, about meeting the demands of the health care industry.

"The state's investment in public universities helps the students of course, but it also produces stability for the communities that host the campuses."

School leaders continue to tout that Grand Valley is a great return on investment and highlight that its tuition is below the state average.

According to the study, an average student pays $4,500 less than the posted tuition price of $11,994 for a full-time undergraduate Michigan resident.The university offered $265 million in financial aid.

Last spring, Grand Valley launched a comprehensive $85 million campaign that will provide increased support for students and allow university programs and facilities to stay current with changing needs of employers.

Board President John Kennedy informed the community that the search firm Storbeck, Pimentel and Associates is working with the board to find the next president to replace the retiring President Thomas Haas. He reiterated the board would be actively listening to what the community wants and that presidential search information is on the website.

The board was updated on the utility work underway on Michigan Street in preparation for a six-level parking deck that will provide 1,200 spaces for Grand Valley students in the health professions and nursing programs, and for Spectrum Health employees. The ramp will be completed in May 2021.

James Moyer, who retired in March as associate vice president of Facilities Planning, was honored for his 22 years of dedication and service. His Boots on the Ground program was highlighted, which ensures persons of color have an equal opportunity for employment on projects, as well as delivering high-quality LEED certified buildings on-time and on-budget.

The board approved the reauthorization of eight charter school academies, including Vanderbilt Charter Academy in Holland.

The Movement Science Department's athletic training program will become a master's degree program in fall 2019. Students can earn a combined degree with a bachelor's degree in exercise science and a master's in athletic training, or apply to the stand-alone two-year master's in the athletic training degree program.